Singapore Airlines (SIA) has renewed its title sponsorship of the Formula 1 (F1) Singapore Grand Prix for four more years, it announced on Thursday (Jan 16).
SIA has been the title sponsor of F1 Singapore for 11 years – since 2014.
The extension of its sponsorship will cover the event from this year, which is scheduled for Oct 3 to 5 at the Marina Bay Street Circuit, till 2028.
“The Singapore Grand Prix is an important event in Singapore’s sporting and tourism calendar. It has become iconic not just for showcasing our beautiful skyline, but also for highlighting Singapore’s position as a key global hub,” Lee Lik Hsin, chief commercial officer of SIA, said.
“This extension underscores SIA’s longstanding commitment to supporting the development of sports and tourism in Singapore,” he added.
This is the fourth extension that SIA has signed on for, after having renewed its sponsorship in 2018, 2020 and 2022.
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“Singapore has become one of the most revered Grands Prix on the calendar, and it is through the hard work and dedication of partners such as Singapore Airlines that we can continue to deliver such a strong event,” Emily Prazer, chief commercial officer of F1, said. “We look forward to continuing to work with them to further elevate this event for years to come.”
In 2022, race promoter Singapore GP announced that it has inked a new seven-year contract to continue hosting the F1 race – also till 2028.
At seven years, that was the longest contract the Republic – which has hosted the street circuit race since 2008 -– has inked to date so as to benefit from pent-up demand as travel slowly recovers post-pandemic.
The 2022 edition of the race was audited by the Singapore Tourism Board after allegations of corruption against former transport minister S Iswaran. The Ministry of Trade and Industry (MTI) also carried out a review of the terms of its contract with the F1 Singapore Grand Prix.
Many charges that Iswaran faced involved tycoon Ong Beng Seng, who was credited for bringing F1 to Singapore. Singapore GP, a company controlled by Ong, has the rights to the Singapore Grand Prix.
Iswaran, who was also minister-in-charge of trade relations at MTI, had been actively involved in the government’s F1-related engagements.
